Nytex

America Movil's planned KPN sale resurfaces 

Sources say holding in Dutch incumbent could be attractive to other telcos, including France's Orange.
America Movil revealed last year that it was looking to sell its stake in KPN and talk of the Mexican operator's Dutch exit resurfaced again this week.
According to unnamed sources cited by Bloomberg, the telco is debating the sale of its 21.1% stake in KPN and considers Orange a possible buyer. However, they said it has yet to make a final decision on the timing or structure of a sale.

The newswire said America Movil's stake is valued at around €3.2 billion, a price that could make it attractive to other telcos, the French incumbent included. It quoted an Orange spokesperson as saying that it is not working on any specific plans with regard to KPN though.

KPN is keen to welcome new blood to its shareholder structure, the sources said. It is seeking investors that would support its management and current strategy, and has reached out to sovereign wealth funds and other potential long-term Asian investors with experience in the telecoms space that might be interested in buying into the company without looking for a full takeover.

However, KPN has little control over what America Movil does with its stake.
The Mexican giant bought into KPN in 2012 and made an unsuccessful takeover bid in late 2013, leading it to start reducing its stake in the operator.

In November last year it reclassified its investment in the company as an asset available for sale and reduced its presence on KPN's board to a single director.

Source: Total Telecom